Roxas pushes one-time tax rebate
Proposal for fixed-income earners vs global crisis
By Maila Ager
INQUIRER.net
First Posted 14:13:00 01/06/2009
Filed Under: World Financial Crisis, Economy and Business and Finance, State Budget & Taxes, Congress, Politics
MANILA, Philippines -- Senator Manuel “Mar” Roxas is pushing for a one-time tax rebate this year for fixed-income earners to ease the impact of the global economic crisis.
Aside from the return to the previous 10 percent value-added-tax, Roxas said the government might also consider granting a P5000 one-time tax rebate for about two million fixed-income earners. His proposal, he said, would cost the government P10 billion.
“There are about two million fixed-income earners, mga gumagamit ng [those who are using the] W-2 form. Kung binigyan natin silang lahat ng [If we all give them a] P5,000 tax rebate, that’s P10 billion only,” the senator said on Tuesday in an interview over radio.
“Parang malaki yan pero sa kabuuang P1 trillion budget, maliit na bagay iyan [It looks like a large sum but in the P1 trillion budget, that’s a small amount]. Pero itong P5,000 sa bawat pamilya, sa bawat taxpayer, malaking bagay ito [But this P5,000 for each family. For each taxpayer, this is a big amount],” he said, referring to the proposed P1.415 trillion national budget for 2009.
As he predicted that the financial crisis to last for a year and a half, Roxas said this tax rebate could be extended until 2010.
“Sa ngayon, gawin nating one-time at kung kinakailangan i-extend sa susunod na taon, sa [For now, let’s make this one time and if needed, let’s extend this until] 2010,” he said.
“Ang importante ay may matatwid tayo kasi aanuhin mo pa yung kabayo sa 2010, 2011 kung patay na [The important thing is we have something to spend for the hard times because what else will we do with the horse in 2010, 2011 if it’s dead]. Ang kinakailangan sa kabayo ay damo, may kakainin sa ngayon [What the horse needs is grass, something to eat for the present],” he further said.
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